Dear sir,

We are the manufacture of Control and Relay Panel under Chapter No 85371000 For Control and Relay panel, & 85364900 for Relays 85361010 for Spares Kindly confirm the GST Tax rates for the same..

Regards,
Ravi

I lend a sum of Rs. 3 Lacs to a relative 2 years back. Now he is going to repay me the same. I know the money I am going to receive wont be taxable, but How do I show the amount of 3 lacs received from him in my IT returns ( which ITR form & which part)

Dear Sir,

We purchased material on 15.06.2017 from out of state, on which CST Tax collected by the supplier. Shall we eligible to claim this CST tax under GST

Suppose 5% GST rate is applicable on the goods we sell. Now we have taken rs 105 as 50% advance(100+5 for GST) from customer.& Sales value is 200.

Option 1:

Upon receiving advance payment:-

Bank a/c dr 105

to GST pay. on adv 5
to Customer 100

GST pay. on adv dr 5
to Bank a/c 5


At the time of making sales:-

Customer dr 205

to Sales 200
to GST payable 5

GST payable dr 5
to Bank 5


Option 2:

Upon receiving advance payment:-

Bank a/c dr 105
to Customer 105

GST paid on adv dr 5
to Bank a/c 5

At the time of making Sales:-

Customer dr 210

to Sales 200
to GST payable 10


GST payable dr 10

to GST paid on adv 5
to Bank a/c 5

Please reply !

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Please let me know that Royalty paid to land owners towards extraction of minerals attracts service tax.

Dear Sir

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